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stock trading site, stock trading pick
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 06/23/2008
BTU (Peabody Energy--$84.76; +4.45; optionable): Coal
http://biz.yahoo.com/p/b/btu.html
EARNINGS: 7-21-08
STATUS: Ascending base. BTU broke out from a 2 year cup base in May and then formed a short, 5 week ascending base consolidating the breakout move, refusing to give up any of the gains. Like the long base as that gives BTU a solid foundation to rally from for quite some time. Tried to make the move last Thursday but reversed only to find support at the 10 day EMA (80.38). It bounced there Monday on rising but still below average volume. Strong money flow is leading higher and BUT is starting to follow it. Ready to move on as BTU continues its burn higher.
Volume: 5.8M Avg Volume: 6.181M
BUY POINT: $85.05 Volume=7.5M Target=$97.95 Stop=$80.21
POSITION: BTU IQ - Sept. $85c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/btu.html
Play Date: 06/23/2008
OSTK (Overstock.com--$27.38; +1.09; optionable): Discount retail
http://biz.yahoo.com/p/o/ostk.html
EARNINGS: Mid-July
STATUS: Reverse head and shoulders. OSTK formed a 7 month cup with handle base through May, broke higher, then came back for a full test this month, moving down near the 50 day EMA. Strong surge from that point up to the late may peak, then fading back Thursday and Friday, testing that breakout and holding at the 10 day EMA (26.05). Nice low volume test and now OSTK is set up to make the break higher once more. Its breaks can be very strong and we are ready to move in as OSTK makes that next break higher.
Volume: 279.061K Avg Volume: 363.291K
BUY POINT: $28.48 Volume=500K Target=$34.45 Stop=$26.49
POSITION: QKT IE - Sept. $25c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/ostk.html
Play Date: 06/23/2008
RIG (Transocean--$154.66; +5.85; optionable): Offshore oil and gas drilling
http://biz.yahoo.com/p/r/rig.html
EARNINGS: 8-6-08
STATUS: Test 50 day EMA. RIG made three tries at 160 in April and May, then failed, falling back to the 90 day SMA in early June. It held, bounced, then tested late last week, holding the 50 day EMA (148.50) as it did. It broke sharply higher Monday, moving on rising though just average volume. Nice hold at support, nice break higher. Looking for volume to pick up some more as RIG continues higher.
Volume: 6.82M Avg Volume: 6.773M
BUY POINT: $155.05 Volume=8.5M Target=$174.95 Stop=$151.55
POSITION: RIG HK - Aug. $155c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/rig.html
Play Date: 06/23/2008
SLB (Schlumberger--$108.42; +4.32; optionable): Oil and gas service company
http://biz.yahoo.com/p/s/slb.html
EARNINGS: 7-18-08
STATUS: Reverse head and shoulders. Above average volume Monday as SLB broke higher from near support at the 10 day EMA. It spent the past 9 weeks in a trading range from 100 to 108, forming the right handle and setting up the next breakout. Looks to be starting that move, showing some good upside volume as it prepares for the break. Looks solid, ready for the breakout.
Volume: 10.52M Avg Volume: 8.762M
BUY POINT: $108.65 Volume=12M Target=$124.95 Stop=$103.77
POSITION: SDB HA - Aug. $105c (63 delta) or SDB KB - Nov. $110c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/slb.html
New buy point on current position:
Play Date: 06/23/2008
MON (Monsanto--$142.05; +2.10; optionable): Ag chemicals
http://biz.yahoo.com/p/m/mon.html
EARNINGS: 6-25-08
STATUS: Earnings are just ahead on Wednesday, and MON is testing the breakout from a 5 month ascending base, setting up for the next move. MON has done nothing but up its earnings guidance, and there is always the possibility that it will disappoint given expectations are so high. It came back Wednesday through Friday, testing the move at the 10 day EMA (138.55). Tested the 18 day EMA intraday Monday, then rebounded for a gain. Looks ready to continue the move higher, and ready to enter new positions as it continues the breakout move.
Volume: 6.088M Avg Volume: 7.178M
BUY POINT: $142.48 Volume=8.5M Target=$162.95 Stop=$138.22
POSITION: MFP JH - Oct. $140c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/mon.html
Good Investing!
Jon L. Johnson and your IH Alerts Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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